Russia denies banks’ participation in financing Iranian oil exports

Russian Energy Minister Alexander Novak’s words were wrongly attributed to a different issue, the press service said

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MOSCOW, February 13 (Itar-Tass) – Russia’s Energy Ministry has denied reports on participation of Russian banks in schemes to finance Iranian oil exports, the ministry’s press service said on Wednesday.

“Following the wrong information spread by Reuters about participation of Russian banks in the financing of Iranian oil exports, Russia’s Energy Ministry says it does not hold such information, while Russian Energy Minister Alexander Novak’s words concerning the current state of the system for mutual settlements within the framework of the intergovernmental agreements concluded earlier were wrongly attributed to a different issue,” the press service said.

In particular, the ministry noted that at a news conference Novak said “the trade turnover between Russia and Iran decreased in 2012 because of international sanctions.”

“This sets new tasks for us to strengthen and deepen partnership,” the minister said. “The two countries created a working group to optimize mutual settlements in both currencies.”